USDJPY Analysis – February 25, 2012

USDJPY’s upward movement extends to as high as 81.20. Further rise could be expected after a minor consolidation, and next target would be at 83.00 area. Initial support is at 80.00, as long as this level holds, the uptrend will continue.

For long term analysis, USDJPY had formed a cycle bottom at 75.57 on weekly chart. Further rally towards 85.00 would likely be seen over the next several months.

usdjpy daily chart